Most read in the last 20 days:

A Recurring Pattern
When the gold price recently spiked up to approach the resistance area even Aunt Hilda, Freddy the town drunk, and his blind dog know about by now, a recurring pattern played out. The move toward resistance fanned excitement among gold bugs (which was conspicuously lacking previously). This proved immediately self-defeating - prices pulled back right away, as they have done almost every time when the slightest bit of enthusiasm emerged in the sector in recent...

Special Guest Trey Reik and Board Member Jim Rickards Discuss Fed Policy
On occasion of its Q1 meeting in late January, the Incrementum Advisory Board was joined by special guest Trey Reik, the lead portfolio manager of the Sprott Institutional Gold & Precious Metal Strategy at Sprott USA since 2015 [ed note: as always, a PDF of the complete transcript can be downloaded further below].
Trey Reik of Sprott USA.
Also at the meeting, Jim Rickards, who is inter...

Europe at an Important Juncture
European economic fundamentals have deteriorated rather noticeably over the past year - essentially ever since the German DAX Index topped out in January 2018. Now, European stock markets have reached an important juncture from a technical perspective. Consider the charts of the Euro-Stoxx 50 Index and the DAX shown below:
The Euro-Stoxx 50 Index already peaked in early November 2017, the DAX followed suit in January 2018 – such divergent peaks...

Riding the Tailwinds of Fiat Money Inflation to Fame and Fortune
Warren Buffett bought his first shares of stock when he was 11 years old. He saved up $114.75 and “went all in,” purchasing three shares of Cities Service preferred stock. The day was March 11, 1942 – nearly 77 years ago. Buffett recently reminisced about this purchase in his annual letter to shareholders:
“I had become a capitalist, and it felt good.”
The Oracle of Omaha – he was...

Not the Brightest Tool in the Shed
Shane Anthony Mele stumbled off the straight and narrow path many years ago. One bad decision here. Another there. And he was neck deep in the smelly stuff.
These missteps compounded over the years and also magnified his natural shortcomings. Namely, that he’s a thief and – to be polite – a moron.
Over-educated he ain't: Shane Anthony Mele, whose expressive mug was captured by a Florida police photographer first in...

Rise of the Zombies - Precious Metals Supply and Demand
Last week, the prices of gold and silver fell $35 and ¢70, respectively. But what does that mean (other than woe unto anyone who owned silver futures with leverage)?
The S&P 500 index and the euro was up a bit, though the yuan was flat and copper was down. Most notably, the spread between Treasury and junk yields fell. If the central banks can lower the risk of default premium, they can make everything unicorns and...

Defending 3,800 and a Swing Trade Play
For one week, bulls have been defending the 3,800 USD value area with success. But on March 4th they had to give way to the constant pressure. Prices fell quickly to the 3,700 USD level. These extended times of range bound trading are typical for Bitcoin Bottom Building in sideways ranges.
This 60 minute chart of Bitcoin shows (represented by the yellow candlestick wicks) how the bulls defended 3,800 USD :
BTCUSDT 60 minute chart...

The Week Ends with a Surprise
The weekly closing prices of the precious metals were up +$5 and +¢11. But this does not tell the full story of the trading action. Prices were dropping until Friday. More precisely, Friday 8am in New York, or 1pm in London.
Gold and silver - back in demand on Friday... [PT]
At that moment, a light cabal conspiring to jack the price struck traders began buying. The end result was the prices, especially of silver, rose on the day...

In 6 of 10 Countries a Single Day Outperforms the Entire Week!
In the Seasonal Insights issue of 13 February 2019 I presented a study illustrating the power of intraweek effects. The article was entitled “S&P 500 Index: A Single Day Beats the Entire Week!” The result of the study: if one had been invested exclusively during a single day of the week since 2000 – namely on Tuesday – one would have outperformed a buy and hold strategy, beating the broad market.
Moreover,...

The new IGWT report for 2019 will be published at the end of May...
...and for the first time a Mandarin version will be released as well.
Gold compared to other financial assets – from the IGWT chart book
In the meantime, our friends at Incrementum have decided to release a comprehensive chart book in advance of the report. The chart book contains updates of the most important charts from the 2018 IGWT report, as well as a preview of charts that will appear...